ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Pharmaceuticals

Sun Pharmaceutical's profit slumps 59% on declining U.S. sales

India's biggest drug maker expects better performance in second half

Sun Pharmaceutical Industries' research and development center in Mumbai   © Reuters

MUMBAI (NewsRise) -- Sun Pharmaceutical Industries, India's biggest drug maker, reported a 59% slump in second-quarter net income as intense competition in the U.S. continued to crimp sales in its largest market.

Consolidated net profit for the quarter ended in September fell 59% to 9.12 billion rupees ($139 million) from 22.35 billion rupees a year earlier, the company said in a statement on Tuesday. However, the profit exceeded analysts' expectations of 8.27 billion rupees on back of a sharp cut in tax expenses.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more